On the 79th Independence Day, State Bank of India (SBI) announced a special personal loan scheme for Agniveers. The scheme is for those with salary accounts at SBI and offers loans of up to ₹4 lakh without collateral.
The repayment tenure will match the duration of the Agnipath recruitment program. Until September 30, 2025, defense personnel are being offered a flat interest rate of 10.50%.
The initiative is an extension of SBI’s Defence Salary Package, which provides a range of benefits including:
- Zero-balance accounts
- Free international gold debit cards
- Waiver of annual maintenance charges on debit cards
- Unlimited free ATM transactions at SBI ATMs nationwide
- Personal accident insurance of ₹50 lakh
- Air accident insurance of ₹1 crore
- Permanent disability coverage of up to ₹50 lakh
As of June 2025, SBI, India’s largest bank, had a deposit base of ₹54.73 lakh crore and advances of ₹42.54 lakh crore. The bank operates 22,980 branches, 62,200 ATMs/ADWMs, and over 76,800 BC outlets across India.